Anadarko to spend $1.1 billion on U.S. Gulf of Mexico in 2018

U.S. oil company Anadarko will spend $4.2 to $4.6 billion on capital investments in 2018. Of this amount, the company will set aside around $1.1 billion for its deepwater Gulf of Mexico operations.

The majority of the Gulf of Mexico spending will be focused on high-return oil development opportunities near operated infrastructure at Lucius, Horn Mountain, Marlin, Holstein and Marco Polo.

The company plans to operate two drillships and spud approximately five development wells in the Gulf during the year, Anadarko said on Thursday.

As for exploration, the investments in 2018 are expected to total about $200 million. Exploration spending will primarily be focused on the Gulf of Mexico, where the company plans to drill identified prospects near existing operated infrastructure.

Additional exploration investment will be allocated to the U.S. onshore, as the company continues to identify future areas that can make a material and scalable addition to its portfolio, Anadarko said.